Many readers have done the math in their heads already, but that's a total of $2.535m, fully $2m and 44% less than the hoped-for start prices – well outside any margin for error for the project, one might reasonably assume.

At least there will be some income from the commercial space fronting MBB on the first floor.

Back in 2006, when the project was brought to the city for approval, city staff said they were "unaware of any existing mixed use condominium developments in Manhattan Beach."

The brave new office/condo project was described at the time in the developers' proposal thusly:

Recognizing the prominent location on Manhattan Beach Blvd., the project aims to be a model development for the City of Manhattan Beach, California, and the Nation.

A model development? Maybe it depends on your standards.

Don't assume that developers are finished trying.

Just east down the block a bit on MBB, there's another modern new development being readied for new residents. Maybe we'll see soon if they've picked up any lessons from this trio.